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Praise for Kate Kelly's "New York Times "Bestseller "Street Fighters"
"It overstates nothing to call Kelly's book brilliantly reported, and her narrative is grippingly propulsive and peopled with fascinatingly drawn characters."
--"Los Angeles Times"
"The twists and turns of those frantic few days make for lively reading."
--"The New York Times"
"Kelly takes us inside Bear's last, dizzying days. . . .The real draw is the book's surgical detail."
"There's so much to like in this book--lively anecdotes, crisp pacing, and brevity . . . a highly accessible narrative for the general reader."
Praise for Kate Kelly s "New York Times "Bestseller"Street Fighters"
It overstates nothing to call Kelly s book brilliantly reported, and her narrative is grippingly propulsive and peopled withfascinatingly drawn characters.
"Los Angeles Times"
The twists and turns of those frantic few days make forlively reading.
"The New York Times"
Kelly takes us inside Bear s last, dizzying days. . . .The realdraw is the book s surgical detail.
There s so much to like in this book lively anecdotes, crisppacing, and brevity . . . a highly accessible narrative for thegeneral reader.
?Commodity players are a shrewd and indomitable lot. And the contracts they trade are still so loosely regulated that the correct combination of money and skill creates irresistible opportunity. That’s why I’m only half joking when I call them the secret club that runs the world.”
When most people think of the drama of global finance, they think of stocks and bonds, venture capital, high-tech IPOs, and complex mortgagebacked securities. But commodities? Crude oil and soybeans? Copper and wheat? What could be more boring?
That’s exactly what the elite commodity traders want you to think. They don’t seek the media spotlight. They don’t want to be as famous as Warren Buffett or Bill Gross. Their astonishing wealth was created in near-total obscurity, because they dwelled either in closely held private companies or deep within large banks and corporations, where commodity profits and losses weren’t broken out.
But if the individual participants in the great commodities boom of the 2000s went unnoticed, their impact did not. Over several years the size of the market exploded, and so did prices for raw materials?raising serious questions about whether the big traders were intentionally jacking up the cost of gasoline, food, and other essentials bought by ordinary people around the world. What was really driving all those price spikes?
Now Kate Kelly, the bestselling author of Street Fighters, takes us inside this secretive inner circle that controls so many things we all depend on. She gets closer than any previous reporter to understanding these whip-smart, aggressive, and often egomaniacal men (yes, they are nearly all men). They work hard, play hard, flaunt their wealth, and bet millions every day on a blend of facts, analysis, and pure gut instinct.
Kelly’s narrative focuses on one of the most extraordinary periods in financial history. Though the practice of gaming out price changes in commodities goes back to ancient Mesopotamia, it had never before reached the extremes of the early to mid-2000s. Kelly exposes the role of the hedge funds, banks, brokers, and regulators in this volatile market, through fascinating stories of ?secret club” members such as . . .
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